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Tuesday, 07 October, 2008, 08:00 GMT | more prices >>

Oman’s oil output seen down again



By Upstream staff 

Photo by Knut Snare


Anglo-Dutch supermajor Shell affiliate Petroleum Development Oman (PDO), which pumps about 90% of Oman's oil, said output this year will fall for an eighth year to less than 560,000 barrels per day as its fields age.

State-controlled PDO, in which Shell has a 34% stake, aims to produce between 540,000 bpd and 560,000 bpd this year, it said in a statement today, Reuters reported.

That compares with actual production last year of 561,000 bpd and last year’s target range of between 560,000 bpd and 570,000 bpd, PDO said.

In the coming years, production will average about 550,000 bpd, Reuters reported the company saying.

PDO output has fallen since 2000 when it peaked at 840,000 bpd, according to PDO's website.

The company said it made a "significant" oil discovery at Budour Northeast, and had tested a well at 5,800 bpd


Monday, 11 February, 2008, 07:23 GMT  | last updated: Monday, 11 February, 2008, 07:23 GMT

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